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It might be time for 'bottom-fishing' Hong Kong stocks, Barclays says

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The months-long protests in the city have affected retailers, airlines and property companies, among other industries.

Barclays' Matt Pecot told CNBC at the Barclays Asia Forum on Thursday: "I think a lot of investors have chosen to steer clear ... property stocks, a lot of your hotel stocks have corrected pretty dramatically."

"Hopefully we'll get a resolution of this soon, and some of the violence and vandalism stops. But I think lot of it is probably already priced in, and it may be time for a little bottom fishing," Pecot said. Hong Kong's benchmark Hang Seng index plunged to a seven-month low in August, and has since bounced back slightly — but still more than 12% off highs this year in April.

 

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Hong Kong to enter recession after protests damage retail, tourism - Business InsiderHong Kong to enter recession after protests destroyed retailers and brought the city's tourist industry to its knees It was the HKPoliceTerrorism and HKPoliceState who brought the city to its knees. The HKSAR government has successfully turned a political matter to a civil-police crisis. Welcome to an authoritarian city. LiberateHongKong Helen504 FreeHK StandWithHongKong HKPoliceTerrorism HKPoliceState LiberateHongKong Stand With Hong Kong 🌟⚖
Source: BusinessInsider - 🏆 729. / 51 Read more »